News & Articles
State Pension Age increase to 68 deferred.
The government has deferred its decision on when to raise the State Pension Age (SPA) to 68. The important word here is – DEFERRED. It WILL increase to 68, we’re just not quite sure when yet.
So, does your financial planning include the additional year at work, or does it bring in sustainable financial independence at a retirement age to suit you, your family and your lifestyle?
To put it another way, can you stop working for an income, live off private means – savings, investments, pensions etc. – and, afford to wait another 2 or 3 years before your State Pension kicks in?
The saga of changing the SPA to 68 is a reminder that your retirement plans should not be overly reliant on your State Pension.